blue chips poised for second worst dive
Blue chips poised for 2006's second-worst dive
Stocks tumble; Dow logs 200-point drop Stronger-than-expected inflation hits hopes for pause in rate hikes
NEW YORK (MarketWatch) -- U.S. stock losses accelerated Wednesday afternoon after a stronger-than-expected rise in consumer prices in April cut the odds that the Federal Reserve will use its June monetary-policy meeting to signal a pause in interest-rate increases. Hewlett-Packard, however, was a bright spot within the Dow Jones Industrial Average, after the computer and printer maker posted strong quarterly earnings.
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